“Vietnam’s Prime Minister Confirms Nationwide Wealth Creation Initiative: Entrepreneur Vu Van Tien’s Insights and Recommendations”

This morning (May 18), at the Conference on the propagation and implementation of Resolution 68 of the Politburo on the development of the private sector, Prime Minister Pham Minh Chinh directly exchanged and answered some opinions and proposals of leaders and representatives of the private business community.

In the presentation of the key and core contents of Resolution 68, the Prime Minister stated that Resolution 68 emphasizes the view that the private sector is the most important driving force of the national economy. In addition, the Prime Minister also mentioned that developing the private sector quickly, sustainably, effectively, and with high quality is both an urgent central task and a long-term strategic one.

The Prime Minister affirmed the need to create a transparent and open business environment, ensuring regional and global competitiveness, while promoting the spirit of entrepreneurship, legal wealth accumulation, and contribution to the country. This is an issue of special importance, creating a solid foundation to promote the strong development and enhance the role of the private sector in participating in important and strategic tasks of the nation, reaching out to the region and the world.

“We have directed the Ministry of Home Affairs to prepare to launch a movement for the whole people to strive to get rich, contributing to the building and defense of the Socialist Republic of Vietnam,” the Prime Minister said.

Businesspeople feel “like drought meeting heavy rain”

Right after the Prime Minister finished presenting the key and core contents of Resolution 68, he asked the delegates for their opinions on what he had just presented.

With the Prime Minister’s encouragement, businessman Vu Van Tien, Chairman of Geleximco Group, was the first to stand up amid the applause of the whole conference hall.

Sharing his feelings about Resolution 68, Mr. Vu Van Tien said that the Resolution’s determination that “the private sector is the most important driving force of the national economy” is a strategic, breakthrough change, with an overarching vision, correctly assessing the position and role of the private sector, while thoroughly eliminating prejudices, perceptions, and attitudes towards the private sector.

The Chairman of Geleximco Group said: “We believe that this is a comprehensive revolution, a liberation of the private sector, like a drought meeting heavy rain, which we private enterprises have been longing for for so many years, when many issues made us frustrated, wanting to contribute but unable to do so, sometimes with our hands and feet tied.”

To organize the effective implementation of Resolution 68, Mr. Vu Van Tien proposed assigning an agency to evaluate the compliance, observance, and execution of the Resolution by ministries, agencies, and localities, as well as to receive feedback from the people and businesses in the implementation process.

Regarding this proposal, the Prime Minister said that Resolution 68 of the Politburo, Resolution No. 198/2025/QH15 dated May 17, 2025, of the National Assembly on some special mechanisms and policies to develop the private sector, the Government’s Action Plan to implement Resolution 68-NQ/TW of the Politburo, and the Government’s Deployment Plan to implement Resolution No. 198/2025/QH15 of the National Assembly, have all assigned very specific tasks to agencies in organizing the implementation.

According to the Prime Minister, in the implementation process, it is necessary to continue reviewing and summarizing the implementation of previous resolutions. What is good should be promoted, and what is not good has also been mentioned in these resolutions.

The Prime Minister stated that in the past, everything had to be put up for bidding, but now an important content of Resolution 68 is to assign tasks and place orders with enterprises. Therefore, the Prime Minister hopes that enterprises “must keep their promises, fulfill their commitments, and produce tangible results and outcomes that can be measured and evaluated” and that government agencies must do the same.

The head of the Government requested that agencies and localities absorb the opinions and feelings of businessmen to better organize the implementation, gradually draw experiences during the process, and gradually expand without being perfectionistic or hasty.

The goals according to Resolution 68 of the Politburo are as follows:

First, by 2030, the private sector will be the most important driving force of the national economy; be the pioneer in the development of science and technology, innovation, and digital transformation, contributing to the successful realization of the goals of Resolution No. 57-NQ/TW of the Politburo. In addition, there will be 2 million enterprises operating in the economy, 20 enterprises per thousand people, and at least 20 large enterprises participating in the global value chain.

The average growth rate will reach about 10-12%/year, higher than the growth rate of the economy; contribute about 55-58% of GDP, 35-40% of the total state budget revenue; solve jobs for about 84-85% of the total labor force; labor productivity increases by an average of about 8.5-9.5%/year.

Especially, the level of technology, innovation, digital transformation, and innovation capacity will be in the top 3 in ASEAN and the top 5 in Asia.

Second, the vision towards 2045 is for the Vietnamese private sector to develop rapidly, strongly, sustainably, and proactively participate in the global production and supply chain; have high competitiveness in the region and internationally; strive to have at least 3 million enterprises operating in the economy by 2045; contribute over 60% of GDP.